Quotas and tariffs both
A) decrease deadweight loss.
B) restrict foreign trade.
C) cause a loss of revenue to domestic producers.
D) lower prices on imported goods.
B
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According to the crowding-out view, budget deficits will:
a. reduce interest rates. b. increase interest rates and retard private investment. c. reduce the investments of foreigners in the United States. d. increase the capital stock available to future generations.
Suppose the economy is in long-run equilibrium. If the government decreases its expenditures, eventually the decrease in aggregate demand causes price expectations to
a) fall. This fall in price expectations shifts the short-run aggregate-supply curve to the right. b) fall. This fall in price expectations shifts the short-run aggregate-supply curve to the left. c) rise. This rise in price expectations shifts the short-run aggregate-supply curve to the right. d) rise. This rise in price expectations shifts the short-run aggregate-supply curve to the left.
How is economic growth graphically depicted?
A. Aggregate demand shifts to the right. B. The long-run aggregate supply curve shifts right. C. The aggregate demand curve shifts to the left. D. Short-run aggregate supply shifts left.
In national income accounting, the consumption category of expenditures includes purchases of:
A. both new and used consumer goods. B. consumer durable goods and consumer nondurable goods but not services. C. consumer durable goods, consumer nondurable goods, and services. D. changes in business inventories.